EXHIBIT 11.1 COMPUTATION OF EARNINGS PER SHARE
CELLULAR TECHNICAL SERVICES COMPANY, INC.
COMPUTATION OF EARNINGS PER SHARE
(unaudited)
THREE MONTHS ENDED NINE MONTHS ENDED
SEPTEMBER 30, SEPTEMBER 30,
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1996 1995 1996 1995
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Primary earnings per share:
Net income (loss) for calculation of
primary earnings per share $ 54,230 $ (1,183,421) $ (4,436,767) $ (447,784)
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Weighted average number of shares outstanding 22,064,713 20,364,070 21,857,357 20,004,200
Dilutive effect of outstanding stock
options - based upon the Treasury Stock
Method using average market price (1) 1,524,012
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Weighted average number of shares, as
adjusted, for calculation of primary
earnings per share 23,588,725 20,364,070 21,857,357 20,004,200
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Primary earnings (loss) per share (2) $ .00 $ (.06) $ (.20) $ (.02)
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(1) Common Stock equivalent shares have not been considered in the calculations
for those periods during which the Company incurred net losses because the
effect would be antidilutive.
(2) Fully diluted earnings per share computations are not included since they
would not materially change results presented on the primary earnings per share
basis.
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